athenahealth Coverage Initiated by Analysts at JPMorgan Chase & Co. (ATHN)
Research analysts at JPMorgan Chase & Co. initiated coverage on shares of athenahealth (NASDAQ:ATHN) in a report released on Monday, TheFlyOnTheWall.com reports. The firm set an “overweight” rating and a $155.00 price target on the stock. JPMorgan Chase & Co.’s target price would suggest a potential upside of 17.33% from the company’s current price.
The analysts wrote, “We initiate coverage of athenahealth (ATHN) with an Overweight rating and a Dec-2014 price target of $155. In a competitive market for electronic medical records and revenue-cycle management solutions, athenahealth offers highly rated products differentiated from competitors’ because of SaaS-based functionality and supportive back-office operations. athena has added doctors to its network at a CAGR of ~22% since 2008, yet we believe there is still ample opportunity to expand within the U.S. physician market given its current market penetration and industry fundamentals that should drive continued demand. While the stock has outperformed our HIT universe in 2013 and valuation levels are lofty, we believe athena is well positioned to continue to deliver growth.”
ATHN has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of athenahealth in a research note to investors on Friday. They now have a $138.00 price target on the stock. Separately, analysts at Deutsche Bank initiated coverage on shares of athenahealth in a research note to investors on Wednesday, November 20th. They set a “buy” rating and a $162.00 price target on the stock. Finally, analysts at FBR Capital Markets initiated coverage on shares of athenahealth in a research note to investors on Thursday, October 31st. They set a “market perform” rating and a $130.00 price target on the stock. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company’s stock. athenahealth presently has an average rating of “Hold” and an average target price of $134.20.
Shares of athenahealth (NASDAQ:ATHN) traded down 0.31% during mid-day trading on Monday, hitting $131.70. 229,837 shares of the company’s stock traded hands. athenahealth has a 52-week low of $71.50 and a 52-week high of $144.42. The stock has a 50-day moving average of $133.9 and a 200-day moving average of $110.4. The company’s market cap is $4.895 billion.
athenahealth (NASDAQ:ATHN) last announced its earnings results on Thursday, October 17th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by $0.02. The company had revenue of $151.50 million for the quarter, compared to the consensus estimate of $154.80 million. During the same quarter in the previous year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was up 43.1% on a year-over-year basis. On average, analysts predict that athenahealth will post $1.03 earnings per share for the current fiscal year.
In other athenahealth news, Director David Eric Robinson sold 4,000 shares of the company’s stock on the open market in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $132.48, for a total transaction of $529,920.00. Following the sale, the director now directly owns 2,058 shares of the company’s stock, valued at approximately $272,644. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
athenahealth, Inc (NASDAQ:ATHN), is a business services company, which provides ongoing billing, clinical-related, and other related services to its customers.
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